Dairygold has confirmed its August milk price.

The Dairygold board has increased the August quoted milk price by 0.5c/L to 39c/L.

This is based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality payments and VAT.

Dairygold said the August milk price equates to an average farm gate milk price of 46.7c/L for the month, based on the average milk solids achieved by Dairygold milk suppliers.

The quoted milk price for August, based on EU standard constituents of 3.4% protein and 4.2% butterfat, is 42.8c/L, inclusive of VAT.

Commenting on the board’s decision, Dairygold chairperson Pat Clancy said: "Dairy market sentiment has continued to improve in recent weeks, supported primarily by protein and cheese returns, and a slowdown in European milk supply growth.

"The Dairygold board continues to monitor markets closely and will review milk price on a monthly basis."

Milk prices

Kinisla this week also announced its milk price for supplies in August, opting to increase its price by 0.5c/L.

The Kinisla milk price for August milk supplies has been set at 39.6c/L, including VAT, and quality and sustainability bonuses.

Lakeland Dairies was the first processor to confirm its August milk price.

Lakeland said it will pay a base milk price of 39.1c/L (based on standard constituents of 3.6% butterfat and 3.3% protein), including VAT, for August milk in the Republic of Ireland.

In Northern Ireland, a base price of 31.4p/L will be paid for milk supplied in August, which is also inclusive of the Sustainability Incentive Payment.